KUALA LUMPUR (March 3): AmInvestment Bank Bhd has cautioned that SapuraKencana Petroleum Bhd could report a loss when it announces its 4QFY17 corporate earnings later this morning. Yesterday, SapuraKencana said it has secured multiple Petronas contracts worth RM433.6 million (US$97.4 million). Meanwhile, it also secured a nine-month contract to provide engineering, preparation, removal and disposal services for Dana and D30 facilities' decommissioning project. The stock currently trades at a fair 8% discount to its latest quarterly reported book, given the likelihood of 4QFY17 losses and asset impairments. At 11.32am today, SapuraKencana was up 0.51% or 1 sen to RM1.96 with 12.21 million shares traded.

Source: The Edge Markets March 03, 2017 04:07 UTC